GENM trade ideas
GenM 21/6/2020 by Newbie Trading Channelgenm 21/6/2020 overall this 2.810 resistant area is a very strong resistant area, it is resisted by the downtrendline and also the support turned into resistant here, if this 2.810 area can break we can see a potential upside to 3.400-3.500 area
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GENM forecastExpecting pullback before ride till 3.7...stay tuned. Expecting by Aug-Sept price will hike the bull
Are they chasing for dividend?After so long hit around RM 2.40 level and bounce back, suddenly came with such powerful long green candle. Are they chasing for dividend? Taken from a news "Most valuable gaming company in the region is under pressure as business is down at a time when it has a US$4.3bil (RM18.5bil) project in Las Vegas to complete."
Fibonacci telling that the next resistance level could be RM 2.62 but of course, we may still need to refer back to the entire big picture to this downtrend chart where it yet to pass the FH level @ RM 2.73
Is it pushing high by Big Player? Retailer start to take position for the entitlement of dividend RM 0.05? Let's keep monitoring it and find the entry point within the squeeze on.
Appreciate anyone could correct my view and provide your comment so that I can keep learning. ^_^
GENM - Limit Down? Read HereGENM - Chance to limit down is low, this QR is highly expected and it's not consider sudden shock, ie Casino License gantung. Good spp at 2.20
Genting MalaysiaGenting Malaysia.
Candle below BB10 central line.
Weak at short term. RM2.2 resistant cannot break.
GENMGENM
2.18 is a crucial point.
Once breakthrough, will start to form a small cup and handle pattern and strive to challenge for the next resistance.
Rst: 2.315
Sppt: 1.985
MACD,Rectangle higher high, lower low created
expected to have a high volume today than yesterday to support the price rise continuously
MACD hit on the trending price which could be a good signal to sell the securities.
Well, the long position seems to be less risky than shorting. as the price is more close to support rather than resistance.
The entry better price is picked a price into a closer the red support trend whereas to alleviate the risk.
<TradeVSA> Possible Shakeout in GENM ?Signal in the chart:
1. Gap down with average volume
2. Red pentagon at the background
3. No sign of strength yet
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
GENM - Level to watchLevels are marked with arrow. But I doubt price will test 2.79, its way too cheap for GENM to trade that level again.
KIV on this counter
GENM - Low Enough to Forge Rebound?GENM - Many may doubt whether the hard-hit stock is at the right point to go for bottom fishing. Well, based on technical, stock that's being punished below 200-days MA (crucial supporting trendline) will take some time to recover & will need strong catalysts in terms of fundamental/ news flow to do so. The bigger picture still heading down.
But, is there something positive we observe now? Yes, there's potentially RSI bullish divergence in formation. However, we expect further downside is possible, which if happen shall lead to stronger & firmer formation of RSI bullish divergence. At that point, it can be considered a "Go Signal". Most possible answer is - Wait now, wait for stronger RSI divergence, wait for 2.76 again.
Current support at 2.76
Strong resistance ahead at 3.25
Disclaimer: Analysis shared here is purely for educational & learning purpose, it does not induce any intention to purchase or sell. Further action or execution shall be consulted via experts. Trade at your own risk.
<TradeVSA> Accumulation in Genting Malaysia & C63 (Macquarie)Strength in the chart:
1.Spring as support
2. Low volume narrow spread bar at support
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
